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<Research>G Sachs Adds BANK OF CHINA (03988.HK) TP to $5, Expects Mkt to Concern About Sustainability of NIM Improvement
Recommend 10 Positive 20 Negative 14 |
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Goldman Sachs released a research report raising its 2025-2027 pre-provision operating profit (PPOP)/ net profit forecasts for BANK OF CHINA (03988.HK) by an average of 2%/ 7%, reflecting better-than-expected net interest margin (NIM), improved growth in fee income backed by overseas business, weaker investment income and lower effective tax rate. The broker believed that investors will be concerned about a number of issues in the future, including the sustainability of the improvement in NIM, the impact of rising bond yield on investment return and bank's capital, particularly with the expansion of the inclusion of other comprehensive income at fair value. Therefore, Goldman Sachs added its target price on BANK OF CHINA from $4.91 to $5, with rating kept at Buy. AAStocks Financial News |
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